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Argentina debt mediator: Argentine finance secretary says he's ready to negotiate

NEW YORK, N.Y. – A court-appointed mediator says the secretary of finance for Argentina’s new administration is ready to negotiate with bondholders seeking $10 billion from the South American country.

Daniel Pollack, appointed last year, said in a statement Wednesday that he met this week in New York City with Argentina’s incoming secretary of finance.

He said the official, Luis Caputo, requested the meeting. Pollack said Caputo indicated the new administration would begin negotiations promptly after officials are sworn in on Thursday. No date for negotiations to begin was immediately set.

Pollack said he also met last week with bondholders, who include representatives of U.S. hedge funds.

The bond crisis developed after Argentina’s 2001 $100 billion default. The bondholders obtained court judgments after refusing to swap their bonds at a steep discount.